The Mid-Market Report’s Q&A series helps readers get to know midsize law firms around the country, and how they are innovating in an ever-changing legal landscape.
Want to be featured in a Mid-Market Report Q&A? Simply have your law firm’s managing partner, CEO or other firmwide leader answer the questions below, and send to us at [email protected] or [email protected].
Firm Leader answering the Q&A (Name and Title):
Practice Areas (if you consider your firm to be full-service, you may answer full-service):
Governance structure and compensation model:
Do you offer alternative fee arrangements?
**The following answers must be completed by the firm leader named above.**
What do you view as the two biggest opportunities for your firm, and what are the two biggest threats?
The legal market is so competitive now—what trends do you see, and has anything, including alternative service providers, altered your approach? Is your chief competition other mid-market firms, or is your firm competing against big firms for the same work?
There is much debate around how law firms can foster the next generation of legal talent. What advantages and disadvantages do midsize firms have in attracting and retaining young lawyers, particularly millennials?
Does your firm employ any nonlawyer professionals in high-level positions (e.g. COO, business development officer, chief strategy officer, etc.)? If so, why is it advantageous to have a nonlawyer in that role? If not, have you considered hiring any?
What would you say is the most innovative thing your firm has done recently, whether it be technology advancements, internal operations, how you work with clients, etc.?
Does your firm have a succession plan in place? If so, what challenges do you face in trying to execute that plan? If you don’t currently have a plan, is it an issue your firm is thinking about?